AGP Executive Report

Energy Reliability: The Philippines’ Visayas grid was put under a fresh red alert from 5pm-7pm and yellow alert from 2pm-5pm and 7pm-10pm as coal plant outages and limited imports tighten supply, with NGCP citing unplanned outages as the main driver. Clean Power Strategy: A new study says Delhi can meet rising demand while cutting emissions by scaling distributed renewables, battery storage and demand-side flexibility, as night-time peaks grow. Markets & Trading Rules: India’s SEBI defended its new Closing Auction Session, saying it boosts cross-market consistency and price discovery as passive investing expands. Business Confidence & Costs: Singapore firms’ top worry is rising business costs, while UK businesses report elevated concerns over conflict, shipping disruption and energy prices. Consumer & Finance Signals: Nigeria’s naira edged weaker at the official FX market, while Iraq’s delayed state salaries are starting to ripple into market activity. Corporate Earnings: Godrej Consumer Products posted higher Q1 profit and declared an interim dividend. Tech & Packaging: TSMC’s stabilization fund earned about NT$7.7bn from its market intervention, and global players push glass-based advanced packaging for AI demand.

Energy & Utilities: NGCP warned Visayas power is tightening, with 85% of Yellow/Red alerts driven by unplanned plant outages and the region importing 650 MW to meet demand. Water Security: Boracay Water says it’s ready for El Niño with a 25 MLD supply buffer, tighter river monitoring, and NRW cuts to protect homes and tourism. Small Business Pressure: Raleigh’s New Bern Avenue BRT build is disrupting traffic and property access for local shops, while New York’s labor commissioner toured Sunnyside businesses and pushed free workforce tools amid tariff-driven cost stress. Consumer Protection: B.C. rolled out tougher consumer contract rules aimed at clearer subscription terms and fewer surprise renewals. Workplace Health: International SOS urged employers to treat women’s health as a business priority, citing lost productivity and weak support. Markets & Deals: AMD agreed to buy Taalas to boost AI inference tech; Nigeria’s NGX rose on First HoldCo-led demand; BP reported higher quarterly profit and lower net debt. Food Supply Risk: A fire at AgriStar Meat and Poultry in Postville could cut kosher beef output by 10%+ ahead of Jewish holidays. Property & Regulation: Kuwait Municipality launched a campaign urging businesses to license and renew to avoid fines and closures.

Data Centres & Water Planning: Selangor says data-centre demand so far isn’t straining domestic water, pointing to early coordination with utilities and environmental agencies before approvals. China Luxury Auto Launch: Huawei-backed Maextro enters China’s ultra-luxury MPV market with the V800, betting on Huawei battery tech and L3 driving as deliveries rise. Singapore Business Momentum: Singapore’s private-sector PMI hit a five-month high on stronger demand and output, though energy costs and supply delays still bite. Middle East Ceramics Earnings: RAK Ceramics lifted Q2 profit on UAE and Saudi demand, while logistics costs and disruptions weighed on first-half results. Global Consumer Tech Demand: Omdia flags a 10% year-on-year drop in tablet shipments in Q2, with weaker-than-usual seasonal patterns. Energy & Trade Shift: Dangote’s refinery reportedly sold more jet fuel into Europe than the US in June, signaling a changing supply balance. UK Retail & Food Halls: Time Out secured a Piccadilly Circus site for a flagship food market opening in 2028. Nigeria FX Update: The naira inched down at the official market, with CBN pointing to narrower FX spreads and higher reserves. Brazil Battery Auction Dispute: Investors face uncertainty as Brazil debates how battery auction costs are allocated, raising policy risk. UK Van Market: Electric commercial vehicles hit record highs as overall van registrations rose in July, though pickups fell. Farmers Markets Push: National Farmers Market Week and a Napa Valley collaboration aim to boost local farm sales and market share.

Aerospace Supply Strain: Honeywell Aerospace cut its 2026 forecast, blaming supply-chain bottlenecks that force it to prioritize Boeing and Airbus deliveries over higher-margin aftermarket work. Healthcare Shortage: The U.S. Red Cross warned of a blood supply crisis, with type O-positive under the most strain and hospitals facing limits on distributions. Energy & Consumer Pressure: Illinois Gov. JB Pritzker urged major oil CEOs to return Iran-war windfall profits, arguing Illinois families and businesses are paying the price. Retail & Tech: Amazon gained food-and-beverage market share, while Reliance Retail moved to buy Furrl’s AI styling engine to push more personalized shopping. Markets & Housing: Regina reported population-driven housing demand but also rising supply via more permits; Delaware’s legal cannabis market topped $53m in its first year. Business Risk & Fraud: A Quebec farm says a scam cost it $20,000, highlighting protection gaps for small businesses. Industrial Outlook: JLL said the UAE industrial sector is seeing solid leasing momentum and near-full occupancy, despite ongoing supply disruptions.

Housing Market: Australia’s resale profits are starting to ease as the market fragments, with Sydney still strong but Melbourne unit sellers increasingly slipping into losses. Local Jobs: Rock County’s unemployment ticked up to 3.6% in June while employers added about 900 jobs in the Janesville-Beloit metro, pointing to a steady local labor picture. Consumer Pricing: A fresh push argues dynamic pricing can help shoppers when it clears perishable inventory and fills empty seats, though big swings can still frustrate buyers. Crypto & Risk Sentiment: Bitcoin held above $64,000 as investors watched geopolitical headlines and margin pressure, with traders bracing for what comes next. AI, Chips & Data Centers: Siemens Energy beat expectations on AI data-centre demand and Middle East power orders, while Infineon forecast growth on AI power supply demand; Samsung also defended DRAM leadership as Micron closes in. Retail & Payments: Reliance Retail bought AI fashion discovery platform Furrl to scale personalized shopping, and the RBI is set to rationalise interest-rate rules to improve transparency for borrowers. Small Business Insurance: Australia’s insurance market is being called “failing” for SMEs, with mitigation efforts not translating into affordable coverage. Scams: Cities warned vendors about phishing emails using fake holiday-market links. Markets Watch: Manipal Health’s IPO sparked a strong debut, valuing the hospital chain around $9bn.

Canada Alcohol DTC Deal: Nine provinces signed a Direct-to-Consumer alcohol sales agreement, letting shoppers buy wine, beer and spirits from producers in participating provinces—grocers say it won’t meaningfully dent in-store sales. Power Prices Under Scrutiny: Davao City urged its utility to lock in long-term power supply deals to cut reliance on costly spot-market purchases, after residents complained about high bills despite adequate Mindanao reserves. Markets: Nigeria’s stock market reversed gains, shedding N599bn as losers outnumbered gainers. U.S. Exports: The U.S. Grains and Bioproducts Council credits market diversification for record corn and ethanol export momentum. Corporate Turnaround: McDonald’s named Skye Anderson to revive its sluggish U.S. business after weak Q2 sales and execution missteps. Retail & Consumer Trends: Apple invited U.S. retail employees to support its September iPhone event; in Australia, resale profitability shows early signs of cooling. Energy Demand Signal: China hit new electricity load records as AI, EVs and heat drive consumption. Compliance & Prediction Markets: Kalshi partnered with Comply to monitor employee participation in prediction markets, aiming to address insider-trading concerns. Labor Watch: U.S. job openings slipped in June, but the labor market stayed resilient amid geopolitical shocks. Small Business Solar Push (Australia): A national solar scheme expansion would subsidize up to 1MW systems, targeting “missing middle” housing and business savings.

Markets & Big Tech: Amazon joined the US$3tn market-cap club as cheaper oil eased bond pressure, while Snap’s CEO said mass-market adoption for its AI Spectacles is unlikely until the end of the decade. Energy & Commodities: Copper pushed toward $14,000 a ton in London as US warehouse inflows tightened global availability; LNG risk is shifting from supply disruption to demand uncertainty amid the Strait of Hormuz crisis. FX & Nigeria: The naira stayed steady on the official market while the parallel rate held above ₦1,400, leaving a wide gap that signals retail dollar demand outpacing supply. Regulation & Business Climate: Pakistan’s SECP set up a high-level working group to reform the corporate debt market, aiming to cut issuance timelines and costs; Denmark opened a licensing window to expand land-based casinos. Retail & Consumer: PepsiCo removed “energy” from Sting labels after India’s food-labelling rules, and ONS data shows wholesale/retail firms are slower to adopt AI. Local Economy: Sutton Coldfield’s The Parade was bought for redevelopment, while WA drivers face petrol prices surging past $2 a litre after fuel excise relief ended.

Amazon’s $3T milestone: Amazon shares hit a record high after blockbuster Q2 results, with AWS growth tied to surging AI cloud demand. Consumer law in Michigan: The state Supreme Court expanded the Michigan Consumer Protection Act in an insulin pricing fight, strengthening consumer protections. Retail pressure in New Zealand: Retail NZ says retail wage growth is easing to 1% as retailers juggle tight margins and sluggish confidence. Heat hits Main Street: In Norman, some businesses report slower patio traffic and sharply rising air-conditioning repair and power costs. Crypto layoffs: FalconX cut about 10% of staff as the crypto downturn drags on, reshaping its Singapore focus. Local business squeeze: A landlord union is moving to evict six small shops on a Third Avenue block in New York. AI supply chain upgrade: Instinct Pet Food is expanding AI-enabled demand planning to extend forecasting and reduce stockout risk. Energy market reform push (NZ): The Auckland Business Chamber calls for structural changes to boost supply and lower prices, arguing concentration in generation is holding back new capacity. Consumer safety crackdown: New York AG Letitia James warned against illegally marketed “e-bikes” that exceed speed limits.

Consumer Finance: Australia’s RBA payment rule changes are set to reshape credit card rewards, with experts warning cardholders may earn fewer points and face higher checkout fees. Housing & Property: Australia’s housing downturn is deepening as auctions stall, while many older Australians delay downsizing amid weak confidence; developers meanwhile keep pushing projects using land banks. EV & Auto Markets: The IEA says China’s stalling car market is masking a record global EV surge, driven by electrification interest amid energy-price volatility; in Japan, BYD’s new electric minivehicle push is set to intensify competition. Markets & Regulation: The UK FCA proposes equity market transparency reforms to tackle fragmentation and improve visibility of trading activity. Business Growth & Capital Markets: The Philippines SEC is urging MSMEs to incorporate to unlock capital-market fundraising; Oman’s clearing house rolls out omnibus accounts to support international investment. Tech & Supply Chains: Apple shares slide after supply shortages cloud growth outlook, while battery-swapping firm Battery Smart gears up for an IPO. Energy & Infrastructure: South Africa backs Eskom’s restructuring plan toward a more competitive power market via an independent grid operator. Local Impacts: A sewage overflow in Suva disrupted businesses and raised public health concerns.

Philippines Economy: Growth is likely to slow to about 2.7% in Q2, the weakest pace in nearly two decades, as inflation bites and public infrastructure spending stays hobbled. Power Bills Relief: The Philippines’ ERC ordered Meralco to refund P9.5 billion to consumers via a separate line item, starting next billing cycle. FX Pressure in Nigeria: The naira slid to N1,368.22 per $1 at the official market as foreign-currency demand persists, with reserves and turnover both under scrutiny. Retail Tech Push (Japan): Seven & i Holdings is teaming up with SoftBank, PayPay and others in a $1.88B “phygital” plan to blend store networks with AI payments and loyalty. Capital Markets (Bahrain): Bahrain Clear adopted enhanced rules to modernize clearing, settlement and investor protection across the local market. Housing Watch (Australia/UK): Australia’s property downturn worsened in July as prices fell 0.7%, while UK listings keep highlighting a mix of luxury and countryside demand. AI Chip Crunch: A “RAMaggedon” memory shortage is driving higher prices for laptops and phones, with tight supply expected into 2027-2028. Business Compliance (Kuwait): Kuwait issued a decree-law targeting commercial concealment, aiming to curb unlicensed activity and boost market transparency.

Energy Relief: Philippines’ ERC has approved a P9.5bn Meralco refund, cutting bills by P0.3449 per kWh over six months starting next billing cycle, tied to over-recovery from Jan–Dec 2025. Retail & Food Costs: India’s OMCs cut 19-kg commercial LPG cylinder prices by Rs 200, easing operating costs for hotels, restaurants and cloud kitchens, while domestic LPG stays unchanged. Aviation & Trade: Euroairlines tapped Aeroprime Group as exclusive cargo GSA for India and passenger GSA for the UAE to expand distribution and connectivity. Crypto Rules: Kyrgyzstan’s virtual assets regulator opened public consultation on new crypto regulations covering exchanges, stablecoins, RWA tokens, mining, a sandbox and enforcement. Local Markets & Small Business: Durham’s Market Hall marks 175 years, with RMT Accountants & Business Advisors celebrating 120 years of partnership—highlighting long-run support for independent traders. AI Supply Crunch: Samsung warns the memory chip shortage tied to AI demand (“RAMaggedon”) may persist through 2028. Markets Watch: India’s top firms added Rs 2.51 lakh crore in value as equities rebounded, with Bajaj Finance leading gains.

Energy & Cost Pressures: Moldova’s Energocom urged consumers to cut electricity use during peak hours as regional supply tightens, while the US saw gasoline prices rise again amid Middle East tensions and the end of earlier tax relief. Food & Supply Risks: Ghana warned cocoa output could drop 16% in 2026/27 due to climate swings, disease and illegal mining, threatening global chocolate supply. Retail & Consumer Mood: US consumer confidence fell in July as households grappled with higher gas and food costs and softer labor views. Tech, Markets & Business Growth: Apple warned of “very significant” supply constraints tied to unexpectedly strong demand, and Applied Materials jumped on AI chip equipment demand. Online Retail & Regulation: Amazon faces a proposed class action over alleged misleading seafood sustainability labels, and New York sued prediction-market firm Kalshi over “illegal gambling” claims. Local Business Momentum: Halal certification was framed as a quality and market-access tool in Malaysia, while small firms increasingly use AI video to cut marketing costs.

Business Sentiment: Philippines firms turned more neutral in June as easing oil prices offered brief relief, but worries over tight credit, weak demand and competition stayed. Currency & Policy: Financial Times reports the US Treasury intervened in the yen market by selling euros and buying yen, after Japan’s yen support efforts—raising questions about coordinated moves. Payments & Retail Intelligence: PhonePe launched PulsePro, giving enterprises hyperlocal, near real-time market insights from anonymized transaction data across India. Corporate Earnings: LyondellBasell posted a sharp Q2 profit jump as tighter petrochemical supply lifted margins and it pushed ahead with asset sales. Energy Costs: Philippine power cooperatives warned against scrapping system loss charges without subsidies, saying it could stall rural electrification. Consumer & Food Safety: Amazon faces a class-action over alleged greenwashing in seafood sustainability claims; in New Zealand, consumer groups are alarmed by an Australian probe into food testing and contamination. Housing: New Zealand house prices fell again in July, extending the longest and deepest downturn in decades. Local Business Pressure: Dunedin owners want an open-container “sip and stroll” plan to boost slumping downtown sales.

Retail & Consumer Protection: Washington consumers will get refunds from a $750,000 settlement after hotel sites allegedly used pre-checked “refund protection” fees, with opt-in now required. Corporate & Markets: Amazon shares surged after results lifted the broader market, while Apple slid on supply constraints and weaker guidance, wiping roughly $500bn in value. Energy & Power Markets: Filinvest’s FDC Misamis signed a two-year deal to supply 20MW via COREnergy, expanding contestable power access for commercial and industrial buyers. Electricity Pricing Politics: Philippine power cooperatives warned against scrapping system loss charges unless the government subsidizes the cost, arguing rural electrification could suffer. Tech & IPOs: China’s AI IPOs kicked off with Unitree Robotics’ A-share listing process, but AI chip stocks still dragged on a broader selloff. Small Business Costs: A new report flags summer liability risks for small firms, from slips at temporary venues to injuries involving seasonal staff. Labor & Housing Pressure: Indiana renters need higher wages to afford a two-bedroom home, as rent growth outpaces pay. Food & Supply: The Red Cross declared a national type O blood crisis as heat, air quality and illness cut donor turnout.

Retail Electricity Market: Filinvest’s FDC Misamis Power signed a two-year deal to supply 20 MW to COREnergy, extending power choice for commercial and industrial customers under the contestable retail electricity model. Housing & Data-Driven Planning: Malaysia’s housing ministry is building a big-data analytics platform for private developers to run feasibility studies based on real market demand, aiming to fix the mismatch between what’s built and what buyers need. Labour Market Watch: Singapore employment kept expanding in 2Q 2026, with unemployment steady at 2.0% and retrenchments rising mainly from business restructuring. Banking Shake-up: HSBC will exit Australian retail banking, selling a $36bn loan portfolio to Blackstone and winding down branches and everyday products through 2027. Oil & Fuel Costs: UAE petrol prices are set to rise again in August as oil markets swing on US-Iran tensions, with pump prices moving alongside crude volatility. Consumer Rights: New EU rules from 31 July strengthen consumers’ right to repair, extend guarantees, and improve access to spare parts and repair information. Markets & FX: Japan intervened in FX to support the yen after a sharp move, while Microsoft’s record one-day surge helped lift US stocks.

Energy Policy: Philippines lawmakers pushed to scrap the “system loss” charge and questioned why line rental fees still land on consumers, arguing distribution and grid operators should absorb the inefficiency. Retail & Consumer Demand: Sprouts Farmers Market posted 5% Q2 sales growth, while Kansas and other retail tax collections showed softness—signs consumers remain cautious. Markets & Big Tech: Microsoft surged after upbeat Azure guidance, offering a potential blueprint for AI spending discipline as Wall Street rebounds. Supply Chains & Food: A U.S. report found sugar demand edging up while high-fructose corn syrup use fell, pointing to a shift toward less processed choices. Local Business Growth: UPS rolled out tools aimed at small businesses, and ByWay Foods launched “Full Fridge,” a weekly online market connecting households and restaurants to local farms. Regional Trade: Malaysia Fest 2026 is using business matching to boost agro-food exports, while East Africa’s push for stronger value chains targets AfCFTA opportunities. Property & Housing: Revelstoke’s Basecamp Resorts broke ground on 101 long-term rental units, aiming to ease local housing pressure. Legal/Regulatory: States challenge Kalshi’s sports prediction contracts, arguing they should be treated as gambling rather than regulated derivatives.